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Industry Leader Update Feb 7, 2011 from Shannon Hicks on Vimeo.
[vimeo id=”20688594″ width=”601″ height=”338″]
Industry Leader Update Feb 7, 2011 from Shannon Hicks on Vimeo.
Never thought it would happen? It appears FHA will be releasing a new rule requiring some basic credit underwriting guidelines for future reverse mortgage borrowers.
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In this week’s reverse mortage industry leader update, one major reverse mortage lender has already made the HECM Saver a substantial part of their business. Also, a US Senator proposes a bill that would completely defund and eliminate HUD. Watch the video for more.
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Are borrowers spending their reverse mortgage funds unwisely? Is it the woman or the man who tends to spend the funds more quickly? Watch this week’s video for more.